<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on February 12, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Barakah Offshore Petroleum Bhd has bagged a Farm-In Agreement from IPC Malaysia BV. The contract is for Barakah to provide maintenance, construction and modification services in the oil and gas fields offshore of Peninsular Malaysia to IPC Malaysia’s client, Pan Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>The tenure of the contract is from November 2018 to July 2023.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>However, there is no firm contract value mentioned in the filing with Bursa Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>“The total value of the contract is not fixed and will depend on the actual scope based on work orders to be issued by the client from time to time throughout the duration of the contract. The contract duration is from Nov 22, 2018, to July 10, 2023, in accordance with the terms and conditions of the contract,” Barakah said in the filing.</p></div>

<div class=newsTextDataWrapInner><p>Barakah said the contract is expected to contribute positively towards the group’s earnings and net assets per share for the contract duration.</p></div>

<div class=newsTextDataWrapInner><p>Barakah’s share price rose half a sen, or 5%, to 10.5 sen, with a market capitalisation of RM87.76 million. The counter saw some 24.77 million shares traded. The shares have fallen about 60.38% over the past year.</p></div>


KUALA LUMPUR: Barakah Offshore Petroleum Bhd has bagged a Farm-In Agreement from IPC Malaysia BV. The contract is for Barakah to provide maintenance, construction and modification services in the oil and gas fields offshore of Peninsular Malaysia to IPC Malaysia’s client, Pan Malaysia.

...

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